Crescent Capital BDC (NASDAQ:CCAP) Sees Large Volume Increase – Here’s Why

Crescent Capital BDC, Inc. (NASDAQ:CCAP) shares saw unusually-strong trading volume on Friday . Approximately 144,505 shares changed hands during trading, an increase of 6% from the previous session’s volume of 136,144 shares.The stock last traded at $15.92 and had previously closed at $16.88.

Analyst Ratings Changes

Separately, Wells Fargo & Company lowered their price objective on shares of Crescent Capital BDC from $19.00 to $18.00 and set an “equal weight” rating for the company in a research note on Friday, February 21st. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $19.20.

Crescent Capital BDC Trading Down 6.9 %

The company has a debt-to-equity ratio of 1.18, a current ratio of 1.32 and a quick ratio of 1.26. The firm has a fifty day simple moving average of $18.33 and a 200-day simple moving average of $18.73. The firm has a market cap of $582.24 million, a P/E ratio of 7.89 and a beta of 0.56.

Crescent Capital BDC (NASDAQ:CCAP) last issued its earnings results on Wednesday, February 19th. The company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.01). Crescent Capital BDC had a return on equity of 11.90% and a net margin of 37.32%. The firm had revenue of $46.40 million for the quarter, compared to analyst estimates of $47.27 million. On average, equities research analysts expect that Crescent Capital BDC, Inc. will post 2.09 earnings per share for the current year.

Crescent Capital BDC Announces Dividend

The firm also recently disclosed a dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a dividend of $0.05 per share. The ex-dividend date was Friday, February 28th. Crescent Capital BDC’s dividend payout ratio is currently 84.42%.

Institutional Investors Weigh In On Crescent Capital BDC

A number of institutional investors and hedge funds have recently made changes to their positions in CCAP. Kovitz Investment Group Partners LLC acquired a new position in Crescent Capital BDC during the 3rd quarter valued at about $4,878,000. Raymond James Financial Inc. bought a new position in shares of Crescent Capital BDC in the fourth quarter valued at approximately $3,750,000. Franklin Resources Inc. boosted its position in shares of Crescent Capital BDC by 35.2% during the third quarter. Franklin Resources Inc. now owns 256,279 shares of the company’s stock valued at $4,726,000 after buying an additional 66,713 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Crescent Capital BDC during the fourth quarter worth $661,000. Finally, Redhawk Wealth Advisors Inc. bought a new stake in Crescent Capital BDC during the fourth quarter worth $659,000. Institutional investors and hedge funds own 49.46% of the company’s stock.

About Crescent Capital BDC

Crescent Capital BDC, Inc is as a business development company private equity / buyouts and loan fund. It specializes in directly investing. It specializes in middle market. The fund seeks to invest in United States.